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tonight. so we are going over the fiscal cliff, isn't that right? >> reporter: technically, that's absolutely right, you're right. because to not go over the cliff, both houses of congress will have to pass something to avert that, and the president will have to sign it. so that is true. and that is why, as i said, politically, there aren't a lot of -- there are some people who aren't that upset about it, because it kind of makes the medicine go down a little bit easier when they vote on these cuts. having said that, we've heard from democrats in particular, for weeks now, that, you know, to sort of take a deep breath, that yes, it is called the fiscal cliff, but it is more of a slope, and particularly advantageous to members of congress who haven't got be their work done that january 1st is a federal holiday. so nothing is going to happen and there aren't going to be any real-world effects, especially when we're talking about the thing that really matters the most to a lot of people around here, just how the market is reacting. we saw the market go up today at news, seemingly at
the fiscal cliff. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to explain or reiterate the position he took on friday, that he would like a plan that extends tax rates for people who make $250,000 and below but raises them for those who make more than that. that it extends unemployment benefits for americans. and if the president, i'm told will say if he does not get an agreement to that plan, he will ask the other leaders what they can agree to, what what they would like instead. if they cannot come up with a proposal that will pass the house and the senate, will ask for a vote on his measure. but that meeting, candy, is still going on. congre congressional leaders arrived at the white house for a last-ditch meeting just days before a new year's de
'll see, right? >> that's right. and we'll see also on the fiscal cliff. and the fiscal cliff standoff here in washington is frustrating the ceo of starbucks. he is asking some of his employees to help promote a deal. >>> and children in need of a home are caught in the middle of a dispute over human rights. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit today. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. >>> the ceo of starbucks is pleading with officials here in washingt
political fault and damage if we go off the fiscal cliff because all the polls show a majority of americans will probably blame republicans for not passing at least tax cuts to extend for 98% of americans. so both have a good point. >> it begs the question i want to you answer, what are they all doing here? if nobody is interested in getting this deal? >> as dana pointed out, lots of house republicans would rather vote on something after the 1st than before. i haven't seen any indication from obama or the people around him that they are okay with going over the cliff. they really do seem to want to do something before the deadline. they seem desperate to do that. plenty of liberals say, go over the cliff. big cuts in the pentagon and big tax hikes. the white house, from all indications that i've seen, they don't want that to happen. they are scared of what could happen to the markets. >> why aren't they dalg dealing with boehner? dana, be go ahead. jumpb in here. >> i think they won their negotiating power once boehner last week failed. as dana pushed out, the only thing that can get boehne
Search Results 0 to 3 of about 4